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Cathryn Williams

Partner

Cathryn Williams is a partner who leads the London Restructuring & Insolvency Practice Group. She acts for banks, financiers, insolvency practitioners, officeholders, corporates and private equity and distressed lenders in all aspects of non-contentious and contentious insolvency, restructuring, fraud and asset recovery.

Cathryn has a wealth of experience in restructuring, formal insolvencies, insolvent business sales and purchases and insolvency litigation. She has worked with businesses in a wide variety of industries including retail, manufacturing, technology, removals and logistics, construction, brewing, meat production and distribution, engineering, film and TV production and distribution, DVD, CD and software production and distribution, printing and credit and smart card production.

Clients have praised Cathryn in The Legal 500 UK as “very professional and proactive” and “a first class operator” who provides “quality advice in a professional and practical manner.” Her team is described as providing “excellent service.” Cathryn is also complimented on showing “a deep understanding of asset-based lending as a debt structure.”

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Acting in the administration and sale of the retailers Blue Inc and Officers Club. The retailers, which previously operated 230 retail outlets throughout the UK, Ireland, Malaysia and Eastern Europe, had suffered a fall in profits requiring it to restructure its business through an administration. The shareholders of the existing trading company bought the business out of administration following a competitive marketing process. 70 stores were closed as a result of the administration but the majority of stores continued to trade securing 1,500 jobs. The lender to the business was repaid in full.

Acting in the acquisition of the defendant insurance and consumer businesses from the administrators of legal services provider and insurance law specialist Parabis Group. In 2012 Parabis became the first UK law firm to be licensed as an “Alternative Business Structure” (ABS) and to take on private equity investment. The deal saw the transfer of over 900 staff, supported by a substantial equity investment by the founders of the business, a £4.2 million loan from OakNorth and overdraft facilities from Barclays.

Acting for the lender and subsequently the joint administrators of Unipart Automotive Limited, the nationwide motor parts and accessories business. We effected an out of hours appointment of administrators before completing three sale transactions with Andrew Page, Parts Alliance and Unipart Group later that evening. Unipart Automotive was one of the UK’s largest independent suppliers of car parts, workshop consumables and garage equipment, with 180 branches and hubs throughout the UK trading under the Unipart Automotive, Partco Autoparts and Express Factors brands and employing 1,813 staff. The sale transactions saved 361 jobs.

Acting for Austin Reed Limited and Country Casuals Limited and the proposed Nominees/Supervisors in drafting and issuing CVAs to creditors as part of a wider restructuring of the Austin Reed Group, effecting closure of certain stores but ensuring the ongoing viability of the two companies as going concerns. Dealing with and advising on the votes of the various stakeholders including pension trustees, landlords, and HMRC.

Acting for the lenders and subsequently the administrators of Tenza Technologies Limited and Advanced Coated Products Limited, effecting a sale of each of the businesses to separate purchasers. Tenza Technologies is a global packaging and self-adhesive tap manufacturing firm; its sister firm Advanced Coated Products is Europe's leading specialist coater of paper and film.

Acting for the buyer of all the intellectual property assets from the failed FX trader Alpari UK (known also as a sponsor of West Ham Football Club). This matter attracted considerable media attention in London and nationally, linked as it was to currency market turbulence.

Advising the bankers and subsequently the administrators of a large international film and TV producer and distributor. This involved a contested administration, resolution of multiple inter-bank issues, drafting a CVA and various option and transactional documents to effect a sale of the business/ its assets.

Advising the boards of private companies and PLCs on insolvency and restructuring issues.